Protean e-gov technologies Limited has responded to a BSE query regarding recent media reports about a Rs 25 crore work order for Ethiopia Agriculture Ecosystem services. The clarification, issued on February 3, 2026, addresses questions raised by the stock exchange following news coverage of the significant contract award.

Order Details and Timeline

The company provided a comprehensive timeline of events surrounding the work order for Digital Public Infrastructure and services for Ethiopia Agriculture Ecosystem:

Regulatory Compliance and Disclosure

Protean eGov Technologies emphasized its commitment to timely regulatory disclosures. The company confirmed that pursuant to Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, the information was disseminated to the exchange promptly on January 10, 2026.

The company also clarified that no regulatory or legal proceedings have been initiated in relation to this matter, addressing one of the specific queries raised by BSE.

Share Price Movement Explanation

Regarding recent share price movements, Protean eGov Technologies provided the following clarifications:

• Price movements are purely due to market conditions and are market-driven
• Management has no control over share price fluctuations
• No pending price-sensitive information or announcements could have led to significant price behavior changes
• The company ensures stock exchanges are duly informed of all required disclosures under applicable regulations

Corporate Communication

The clarification was signed by Maulesh Kantharia, Company Secretary & Compliance Officer (FCS 9637), and submitted to BSE Limited under reference Protean/Secretarial/2025-26/96. This formal response demonstrates the company's proactive approach to addressing exchange queries and maintaining transparency with stakeholders.

The company reiterated its commitment to ensuring that stock exchanges are duly informed of all information and announcements required to be disclosed under applicable regulations, as and when required.

Protean eGov Technologies Limited shares will be in focus following the announcement of a major leadership transition. The company disclosed that Managing Director and CEO Suresh Sethi has submitted his resignation to pursue other interests, with his tenure concluding on March 31, 2026.

Stock Performance and Market Impact

Shares of Protean eGov Technologies ended 0.36% higher on Friday at ₹703.75, ahead of the leadership announcement. The stock will be closely watched as investors assess the impact of the management transition on the company's future prospects.

Leadership Transition Details

The board meeting on January 16, 2026, addressed the leadership succession following Sethi's resignation announcement. Mr. Sethi will cease to be a member of all committees where he currently serves, effective from the close of business hours on March 31, 2026.

Sethi's Contributions and Legacy

During his tenure, Mr. Sethi spearheaded the transformation of Protean as a leading Digital Public Infrastructure (DPI) company. His leadership period was marked by several significant achievements that positioned the company for future growth.

Key accomplishments under Sethi's leadership included:

• Successful public listing of the company
• Comprehensive rebranding initiative leading to the organization's new identity
• Expansion of domestic and international presence
• Development of a diversified, future-ready portfolio

Interim CEO Appointment

V Easwaran will assume charge as Interim Chief Executive Officer effective April 1, 2026. Currently serving as Executive Director and Chief Operating Officer, Easwaran will lead the company during this transitional phase.

V Easwaran's Professional Background

Easwaran brings extensive experience to his new role, with over three decades in the banking industry. His expertise spans wholesale banking, retail banking, and treasury operations. He was instrumental as a key member of the start-up teams for two leading private sector banks and one public sector payments bank.

For the past six years, he served as Chief Operations Officer at India Post Payments Bank, where he managed banking outlet channels, operations of access points, digital products, technology operations, and financial and insurance operations. Previous career positions include roles at prominent financial institutions such as Kotak Mahindra Bank, HDFC Bank, and Standard Chartered Bank.